The recent round of energy price cuts have
proved a damp squib, with average annual bills still lingering at near record highs of over £1,250.
Hardly surprising then, that three quarters of Brits say their budgets are being stretched as a result.
Of these, one in six simply cannot afford to heat their homes, while just over a quarter (27%) have cut back on using their central heating and are keeping warm in other ways.
The good news is that there are a number of steps you can take to dramatically reduce your bills. We list the five best money-saving tips below.
1: Switch suppliers
The first thing you need to do is
switch suppliers. Not only can this save you up to £325 (according to uSwitch) a year by doing so, it is also a great way of showing your supplier you won’t put up with bad service or high prices.
It's important to remember that the
cheapest supplier will vary depending on where you live, so don't base your decision on what you see on adverts or on word of mouth. Rather, take the time to compare prices in your specific area.
2: Choose the online tariff
Unfortunately, suppliers are increasingly pricing their standard tariffs similarly, which reduces the benefits of switching between them.
That's why its essential you also choose the cheapest tariff as well as the cheapest supplier. This will almost always be the
online deal, which works out 10-15% cheaper than standard plans.
3: Pay by direct debit
It's not just the tariff you choose that will impact on your bill, but the way you pay. The energy watchdog claims that a household paying by cheque every quarter could save £150 a year by switching to direct debit.
4: Insulate your home
Once you have secured the
best possible deal, it's time to start looking at how you can reduce consumption.
Insulation is a great way of achieving this. The cost of fitting loft or wall insulation has not increased dramatically in recent years, but the sky-rocketing cost of energy means the potential savings have.
Furthermore, double-glazing can save you £80-£100 a year on heating bills, cutting your CO2 emissions by 680kg a year in the process. You can also keep water hot for longer by insulating your hot water cylinder with British Standard jackets. These are available at most DIY stores.
Do note that not all insulation is equally effective. For example, wall insulation can prove extremely effective yet the benefits are limited.
5: Use less electricity
There are also a host of tricks you can employ to cut your electricity bills without infringing on your lifestyle.
For starters, Energy saving light bulbs last up to 12 times longer and use up to 75% less energy, saving you £78 over their lifetime. You can save a further £37 by switching appliances off rather than leaving them on standby.
Finally, keep energy costs in mind when making future purchases for the home. If you’re shopping for a new dishwasher, boiler or even just light bulbs, always look for the Energy Saving Recommended logo.
It means the product is the most energy efficient in its category, which will cost less to run.
